As technology advances and becomes more sophisticated, businesses, individuals and other entities often look for ways to improve how they do business and communicate with one another. One element in which computing technology has drastically changed the landscape is the conducting of transactions between two entities. Transactions can occur between two entities for any variety of reasons: payment to or from, the purchase of goods or services, exchange of data, acquisition of property, consideration for a contract, etc. In many cases, computing technology may provide a platform for which an entity may prove or verify a transaction and data associated therewith, as well as perform communications related thereto. For instance, sending money via a computing device can be performed significantly quicker than physical delivery.
However, computing devices and electronic communications can sometimes be compromised, placing entities and their property at risk. A number of methods have been developed to help secure such communications, such as secure communication channels and protocols and encryption for data messages. Similarly, methods have been developed to secure the storage of data. One such method is the use of a blockchain, where the chain is decentralized and where data stored therein is immutable, providing for reliable proof of data at a specific time, such as agreement of specific contract terms.
However, while blockchains may be useful for validating an agreement or other data related to the planning or initiation of a transaction, blockchains currently lack capabilities for validating and auditing the performance of such a transaction. That is, there is a technical challenge as to how using blockchains for this purpose can be done. Thus, there is a need for a technical solution to provide for the auditing and validation of the performance of actions associated with a transaction using the blockchain.